Niu Technologies reported unaudited second-quarter 2026 revenue of RMB 1,440.4 million, up 14.7% from a year earlier, as e-scooter unit sales increased 24.2% to 434,687. China sales reached 402,202 units, up 26.2%, while international market sales rose 3.6% to 32,485. Despite higher volume, the company swung to a net loss of RMB 102.2 million from net income of RMB 5.9 million in the second quarter of 2025 as gross margin narrowed to 16.0% from 20.1% and operating expenses rose 28.6%. The company said revenue growth was partly offset by an 8.6% decline in revenue per e-scooter to RMB 3,029, mainly because of a shift in product mix in China. China e-scooter sales revenue rose 14.6% to RMB 1,210.6 million, while international e-scooter revenue increased 3.0% to RMB 106.3 million. Accessories, spare parts and services revenue climbed 29.0% to RMB 123.5 million, helped by higher Niu App services revenue and stronger accessories and spare parts sales in China. NIU expects third-quarter 2026 revenue of RMB 1,863 million to RMB 2,033 million, implying year-over-year growth of 10% to 20%.